Digital Garage’s subsidiary econtext ASIA to be listed on the Hong Kong Stock Exchange
- Accelerating the expansion of its settlement platform to Asia -
econtext ASIA Limited (Head Office: Hong Kong, Chairman: Kaoru Hayashi / CEO: Takashi Okita, henceforth, “econtext ASIA”), Digital Garage Group’s online settlement business leader, has applied for its proposed listing on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) and today announced the terms of its public offering. econtext Asia intends to offer 125,000,000 shares at an offer price ranging between HK$2.96 and HK$3.59 per share and plans on raising the maximum of HK$448.75 million (JPY 5.969 billion *1) *2. 10% of the shares will be offered for its Hong Kong public offering, whereas the remaining 90% will be made available globally on International Placing for the areas excluding the United States, Canada, and Hong Kong. The date of the proposed listing is scheduled on December 19, 2013.
econtext ASIA was established in September 2012 by Digital Garage, Inc. (TSE JASDAQ: 4819, Head Office: Shibuya-ku, Tokyo, Japan, President & Group CEO: Kaoru Hayashi) as an intermediate holding company with the headquarters function to Digital Garage Group’s payment operations. Its major subsidiaries include VeriTrans Inc. (Head Office: Shibuya-ku, Tokyo, CEO: Takashi Okita) and ECONTEXT, INC. (Head Office: Shibuya-ku, Tokyo, President: Keizo Odori), comprising one of the largest e-Commerce settlement platforms in Japan. econtext ASIA continues to accelerate its expansion of electronic settlement services in Asia through its Indonesian joint-venture subsidiary, Midtrans, that provides local e-Commerce settlement and infrastructures and also through VeriTrans Shanghai, a joint venture which offers Chinese RMB-based online settlement solutions that mainly target local establishments of Japanese and other foreign affiliations.
The three-headquarters structure of Digital Garage Group, connecting Tokyo, San Francisco and Hong Kong, for its global expansion will be completed by the listing of econtext ASIA Limited on SEHK. In particular, the headquarters in Hong Kong will take the important role as the center for the business expansion of the Group’s settlement platform in the Asia region. While contributing to the development of e-Commerce market in Asian countries by its payment platform, Digital Garage Group will continue to accelerate its growth in the global market.
*1 assumes 1 HKD = 13.3 JPY
*2 assumes no exercise of overallotment option
[About econtext ASIA]
Company Name: econtext ASIA Limited
Representatives: Kaoru Hayashi (President & Group CEO, Digital Garage, Inc.),
Takashi Okita (CEO, VeriTrans Inc.)
Shareholders: Digital Garage, Inc. (80.5%), Sumitomo Mitsui Card Company, Limited (10.0%),
Credit Saison Co.,Ltd. (7.5%), JCB Co.,Ltd. (2.0%)
Business Description: Providing settlement service and conducting e-Commerce-related businesses in Asia
Hiroki Eda, Group CEO’s Division, Digital Garage, Inc.
E-mail: firstname.lastname@example.org / Phone: +81-3-6367-1063
Kiyotaka Harada, econtext ASIA Limited
Email: email@example.com / Phone: +81-3-6367-1150